January 27, 2011
Tax Breaks for Higher Education Explained by NASFAA.org
To go along with our previous blog about tax credits and deductions (“College tax credits and deductions for your 2010 return”) for HigherEd in 2010, we also want to share this annual guide from NASFAA.org (the National Association of Student Financial Aid Administrators) that outlines and explains the tax credits available to you in detail.
There’s great news for parents and students: the federal government provides a number of tax incentives that can help defray the cost of higher education. These incentives come in a couple of forms: Tax Credits, which directly reduce the amount of tax you are liable for; and Tax Deductions, which reduce the amount of income on which you pay taxes.
Our annual guide to federal tax benefits for higher education gives you an overview of all the options that may be available to you.
Posted by: blee